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              -  Home 
              -  Benefits 
              -                   RRB Reminders for 2024              

 

Form G-34 
 

**2024 TIER I EARNINGS BASE AND TAX RATES**Annual Maximum - $168,600Employee and Employer Tax Rate – 6.2%Maximum Payable by an Employee & Employer - $10,453.20

**2024 TIER II EARNINGS BASE AND TAX RATES**Annual Maximum - $125,100Employee Tax Rate – 4.9%Maximum Payable by an Employee - $6,129.90Employer Tax Rate – 13.1%Maximum Payable by an Employer - $16,388.10

**2024 MEDICARE HOSPITAL INSURANCE****EARNINGS BASE AND TAX RATES**Annual Maximum - No LimitEmployee and Employer Tax Rate – 1.45%

**TOTAL TIER I, TIER II, & MEDICARE ****HOSPITAL INSURANCE MAXIMUM TAX**Based on earnings of $168,600Maximum Payable by an Employee - $19,027.80Maximum Payable by an Employer - $29,286.00(Additional Taxes are 0.9% of Earnings Above$200,000.00 - Filing Individually)

**SSA QUARTER OF COVERAGE EARNINGS NEEDED**In 2024 - $1,730.00 (Earn up to 4 quarters per year)

**2024 EMPLOYER RUIA TAX RATE**0.65% to 12.0% on first $1,985.00 per month

**EMPLOYEE RUIA 2023 QUALIFYING EARNINGS**For Benefit Year 2024 (Beginning July 1, 2024) - $4,737.50

**RUIA DAILY BENEFIT RATE**For Benefit Year 2024 (Beginning July 1, 2024) - $94.00

**BASIC MEDICARE PREMIUM**Part B beginning in 2024 - $174.70

**COST-OF-LIVING INCREASE - DECEMBER 2023**Tier I – 3.2%; Tier II – 1.0%

**WORK DEDUCTION EXEMPT AMOUNTS***

**Retirement and Survivor Work Deduction Limitations**Annuitants Attaining Full Retirement Age (FRA)(For Months Prior to FRA in the Calendar Year)Monthly – $4,960.00; Annually – $59,520.00($1.00 Deduction for Each $3.00 of Excess Earnings)Under FRA(If Under the FRA for the Entire Calendar Year)Monthly - $1,860.00; Annually - $22,320.00($1.00 Deduction for Each $2.00 of Excess Earnings)**Disability Earnings Limitations Amounts**Monthly - $1,210.00; Annually - $15,125.00*All earnings must be reported by calling 1-877-772-5772.Failure to report earnings could lead to penalties.To view and download PDF documents, you need the free Acrobat Reader. We recommend using the latest version. Viewers with visual disabilities can go to Adobe's Access Website for tools and information that will help make PDF files accessible. 			  To view and download PDF documents, you need the free Acrobat Reader. We recommend using the latest version. Viewers with visual disabilities can go to Adobe's Access Website for tools and information that will help make PDF files accessible.       **Railroad Jobs** **Fraud Hotline****Field Office Locator** 
 
    **U.S. Railroad Retirement Board**William O. Lipinski Federal Building844 North Rush StreetChicago, IL 60611-1275Toll Free: (877) 772-5772TTY: (312) 751-4701 Directory: (312) 751-4300
 
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								Last updated: 12/20/2023